Hyundai’s $21 Billion Investment in Louisiana: A New Steel Mill
Hyundai has announced a significant $21 billion investment in Louisiana, marking the establishment of its first U.S.-based steel mill in the state. This move, celebrated at a White House event with President Trump and Louisiana Governor John Bel Edwards, is poised to bolster the local economy and enhance the automotive industry's supply chain.
The new facility, expected to produce high-quality steel for Hyundai's vehicles, signifies a strategic expansion for the South Korean automaker in the American market. The investment not only underscores Hyundai's commitment to sustainable growth but also promises to create numerous job opportunities in Louisiana, fostering economic development in the region.
During the announcement, President Trump praised the collaboration between Hyundai and Louisiana, emphasizing the positive impact on American manufacturing. Governor Edwards echoed these sentiments, highlighting the state's favorable business environment and its readiness to support such large-scale investments.
This development comes at a crucial time for Louisiana, as it aims to diversify its economy beyond traditional sectors like oil and gas. The steel mill is expected to be operational by 2027, setting a new milestone in the state's industrial landscape.
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Where is Hyundai building the steel plant in Louisiana?
Construction of the facility is expected to begin in the third quarter of 2026. The project, located in Donaldsonville, will be the company's first steel mill in the United States and is expected to create an estimated 1,300 direct jobs. “As a result, they'll not have to pay any tariffs,” Trump said.
Is Hyundai investing in the USA?
Hyundai plans to spend about $21 billion in the US through 2028 to increase vehicle production and on other projects expected to create about 14,000 direct jobs, the company said in a statement, confirming an earlier report by Bloomberg News.
Where is Hyundai building the new plant?
In particular, Hyundai will be building a brand new steel plant in Louisiana, which will produce more than 2.7 million metric tons of steel, a year, creating more than 1,400 jobs for American steel workers. And then there'll be major expansion after that.
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